- Construction activity is high; loans at 149, shy of 150 record
- $10 million Building Projects Support Program grants now opened
- Affordable Housing Strategy has delivered a total of 1,604 homes
The Tasmanian Government has recently announced various projects and data highlighting the significant investment into the local housing and construction industry.
Construction activity remains high with construction loans at 149 during January – just 1 loan shy of the 150 record seen in December 2020.
This number of construction loans is nearly triple what was seen a year ago and is higher than the national growth figure. Additionally, construction-related job vacancies nearly doubled in 2020. The Tasmanian Government says this shows very strong confidence in the Apple Isle’s building and construction sectors.
“These results do not happen by accident and are a consequence of our Plan to grow the economy and create jobs. Our Construction Blitz and HomeBuilder is leading to more jobs, with construction-related job vacancies nearly doubling in 2020,” said Elise Archer, the Minister for Building and Construction.
Building Projects Support Program grants open
The Government also recently announced grants are open for their new $10 million Building Projects Support Program, which will be offered through a single competitive grant funding round. For community and commercial projects with a minimum cost of $2 million, up to 25% of funding can be provided through the program.
There is a maximum grant of $1 million per applicant, however, on a case by case basis within the merit-based assessment process.
The program is designed to stimulate the local economy quickly, with a requirement for grant recipients for all projects to commence within six months of receiving funding.
Social housing availability is up
In terms of social housing, the Tasmanian Government has reported during the past quarter, 101 additional new accommodation was added to the long-term housing portfolio which is accessible for those on the social housing register.
This has resulted in the Affordable Housing Strategy delivering a total of 1,604 new homes, land and supported accommodation places as of December 2020.
22 households on the register were facilitated into affordable private rentals with a further 21 households supported into homeownership. Through initiatives such as HomeShare, a further 962 households were placed into affordable homes.
“Every Tasmanian needs a roof over their head and we are delivering more homes than ever before for Tasmanians who need them,” said Roger Janesch, the Minister for Housing.
“We will continue to deliver our plan by helping Tasmanians who need it most as we rebuild a stronger Tasmania.”